California Corporations Code

§ 28047.1

CORP § 28047.1 Effective Jan 1, 2011Div. 3 · Title 4 · Ch. 1 · Art. 2

Statute text

“Smaller business firm” means a person that proposes to transact, or transacts, business on a regular and continuous basis in California and, together with its affiliates, has a net worth of not more than six million dollars ($6,000,000), and average net income after federal income taxes, excluding any carryover losses, for the preceding two years no greater than two million dollars ($2,000,000).

Legislative history

Added by Stats. 2010, Ch. 516, Sec. 3. (SB 1155) Effective January 1, 2011.